Barclays PLC Purchases 2,420 Shares of Credit Acceptance Co. (NASDAQ:CACC)

Barclays PLC increased its position in Credit Acceptance Co. (NASDAQ:CACC - Free Report) by 85.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,241 shares of the credit services provider's stock after purchasing an additional 2,420 shares during the period. Barclays PLC's holdings in Credit Acceptance were worth $2,324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CACC. UMB Bank n.a. grew its stake in shares of Credit Acceptance by 4.6% in the second quarter. UMB Bank n.a. now owns 654 shares of the credit services provider's stock worth $337,000 after acquiring an additional 29 shares during the period. HighTower Advisors LLC boosted its holdings in Credit Acceptance by 5.7% in the third quarter. HighTower Advisors LLC now owns 595 shares of the credit services provider's stock worth $263,000 after purchasing an additional 32 shares during the last quarter. nVerses Capital LLC bought a new stake in Credit Acceptance in the 2nd quarter worth approximately $51,000. PDT Partners LLC raised its stake in Credit Acceptance by 1.9% during the 3rd quarter. PDT Partners LLC now owns 5,458 shares of the credit services provider's stock valued at $2,420,000 after buying an additional 100 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Credit Acceptance by 4.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,617 shares of the credit services provider's stock valued at $1,160,000 after buying an additional 105 shares during the period. Institutional investors own 81.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stephens assumed coverage on shares of Credit Acceptance in a research note on Wednesday, November 13th. They issued an "equal weight" rating and a $452.00 price objective on the stock. StockNews.com upgraded Credit Acceptance from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Finally, TD Cowen reduced their price objective on shares of Credit Acceptance from $400.00 to $380.00 and set a "sell" rating for the company in a research note on Friday, November 1st.

Credit Acceptance Price Performance

Shares of NASDAQ CACC traded up $4.03 during midday trading on Thursday, reaching $472.82. 30,076 shares of the stock traded hands, compared to its average volume of 59,638. Credit Acceptance Co. has a one year low of $409.22 and a one year high of $616.66. The stock has a market capitalization of $5.73 billion, a PE ratio of 31.75 and a beta of 1.46. The company's 50 day moving average is $467.14 and its 200 day moving average is $478.86. The company has a debt-to-equity ratio of 3.79, a current ratio of 23.63 and a quick ratio of 23.63.

Credit Acceptance (NASDAQ:CACC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $8.79 EPS for the quarter, topping the consensus estimate of $7.88 by $0.91. Credit Acceptance had a return on equity of 29.18% and a net margin of 9.08%. The company had revenue of $550.30 million during the quarter, compared to analyst estimates of $548.13 million. During the same quarter last year, the business posted $10.70 earnings per share. The firm's revenue was up 15.0% on a year-over-year basis. On average, equities research analysts anticipate that Credit Acceptance Co. will post 36.54 earnings per share for the current year.

Insider Activity at Credit Acceptance

In other news, COO Jonathan Lum sold 552 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $489.90, for a total transaction of $270,424.80. Following the transaction, the chief operating officer now owns 31,493 shares of the company's stock, valued at approximately $15,428,420.70. This represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.30% of the stock is currently owned by insiders.

Credit Acceptance Company Profile

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.